The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-03-16
History of the Haul.

lsHhC ii. vincent leIt mOnJgOmtry
Monday night, January go, 1883. The
Legislative Committee appointed to in
vestigate his account, notified him
that the work would begin on the 80 h.
Aspecial from Mcn'gom ry to ths Az.
PEAL, dated January 81, 1888, gives the
following account of the defalcation
aud causes which led up to il:
State Treasurer Vincent, according
to the Legislative Committee, is shot
about S226,000. They notified him
Monday that they would examine his
books yesterday. Monday night he
left the city. Tuesday morning his
non-appearsnce at the capitol was
noied, though it was supposed he was
at home. About 3 o'clock his vile de.
liveIed to his clerk letter written by
him Monday night, saying he was GO
Ing to New York to got money to
straighten up. When she delivered
the letter she also delivered $4,000,
which he handed her to give to the
clerk. 1t was the proceeds Of checks
which he collected Monday. The
amount OF money left in the
treasury is about $l50,000. Lsst night
the Ecommittee, the Governor and
the Attorney General proceeded to an
investigation OF the matter. They
called in before them O number of
bank cashiers in the city, and exam
ined them as to the private bank
trans actions of Mr.. Vincent for the last
few years. Tho fact was dc -eloped
that from time to time Mr.. Vincent
had bought large amounts of enghar Ja
on New YORK, the drafts be$ea 70 q
great extent drawn
IN FAVOR OF MIR. FRED woLFFR,
At Mr.. Wolffe's bank alone $4,000
OF the exchange had been bought.
From all the facts there Is no doubt
that nearly the whole amount went to
cover zeal or supposed losses in cotton
futures, or was loaned to some one in
New York, This morning early the
matter was abroad, and the whole city
was in a state Of intense though
suppressed excitement. The news
fell like a thunderclap. The
public had not even faint
suspicion that anything was wrong.
The Capitol was in confused state,
men talking aud wondering, and gath
ering in the lobbies, rotundas and
Offices to dlscuss the situation. The
effect on the political situation was
eagerly discussed, aud the verd ct was
that Mr.. Vincent had turned out q
heavy load for Democratic shoulders
to carry. Much wonderment was in
dulged in as to who is
REsPoNsIBLE FOR THE MIG IeENCE
that allowed this thing to proceed
without detection for so long a time.
Vincent was at one time Gov. Hous-
toms private secretary, and from that
position was elected State Treasurer
in 1873. He was re-eleGted in 1880,
and again in 1882. He took the
oath Of Office on his third term on
November Goth last. He had
thus been time and again honored
by his people, and up to that day
they had never seen cause to repent
the large share of con fidencs they had
given him. He was regarded as a
man of moderate ability, but OF unim-
peachsble integrity. His sterling
honesty was his strong point. He is
about 40 years old, Of medium hight,
has full beard, a rather pleasing
countenance and a scar on ais fore
head-a mark left there by the war, in
which he was bravo SOL
dier. For several years Mr, Vim
cent has lived in q style OF
luxury entirely beyond the capacity
of his salary, and the general opinion
has been that he had money outside.
II was currently believed in certain
circles that his money was made by
lucky speculations in futures, but no
one seemed to suspect that he had
used the States money in making his
"deals" on Change. Only those with
whom his transaclions were had knew
that he had
MET WITH HEAVY LOSSES
and covered them promptly. Some
months ago he purchased q house Of
modest pretensions in appearance and
cost, and it was reported that he
would pay for 1t in installments. He
furnished it handsomely, however,
and has spent money freely
in the way OF good living.
He hes kept carriage and a pair
of horses. II seems that in his first
dealsin futures he was fortunate, and
this gave grounds for the belief that
he was not dependent on his $2l00 in
come; but his early successes only
whetted his appetite, and he went
on from bad to worse, uutil the
announcement OF the Examin-
ing Committee showed him that
on the next jump he wonld
hit bo tom, 80 he left, and nobody |
knows where he is. In his note to |
Mr.. Crawford he says he will come
back and make his deficit good. Mr..
Vincent has wife and two children.
1t is impossible to tell in what direo-
ton Treasurer Vincent left on Mon
day night. TLS ticket agent does not
know him, and none Of the conductors
on Monday nights train recognized
him.
yIN6KET's CONFESSION,
STATE OF ALABAMA, TREASURY DEP'TN'I,l I
MONTGOMERY, January 20, 1888.
DEAR CRAWFORD Il find this even